USD business account in Hong Kong
A Hong Kong business holds US dollars in a multi-currency account at a Hong Kong bank, paid by SWIFT and USD CHATS, or with a licensed provider that gives it a US routing and account number for ACH. The Hong Kong dollar is linked to the US dollar within HK$7.75 to HK$7.85, so holding dollars carries little currency risk. This guide covers the rules, each option, published fees, documents and the Stablecoins Ordinance.
- The HKMA keeps the Hong Kong dollar within HK$7.75 to HK$7.85 per US dollar under the Linked Exchange Rate System in place since 17 October 1983.
- Hong Kong bank accounts receive dollars by SWIFT from abroad and by USD CHATS, a real-time system launched in August 2000, from other Hong Kong banks.
- HSBC Hong Kong's August 2026 tariff lists HK$65 for each incoming SWIFT payment and HK$125 for an online outgoing SWIFT payment.
- Airwallex offers Hong Kong companies USD accounts with US bank codes and is licensed in Hong Kong as a Money Service Operator, not a bank.
- Wise states that Hong Kong business accounts must use received funds within 90 days or the funds are frozen.
- Under the Stablecoins Ordinance, in effect since 1 August 2025, only stablecoins from HKMA-licensed issuers may be offered to retail investors in Hong Kong.
USD business accounts in Hong Kong: the short answer
A Hong Kong company holds US dollars in a multi-currency account at a Hong Kong bank, or with a licensed payment provider that gives it US account details. A bank account receives dollars by SWIFT from abroad and by USD CHATS from other banks in Hong Kong. SWIFT is the international network banks use to send cross-border payments, identified by an 8 or 11 character bank code called a SWIFT code or BIC. CHATS is the Clearing House Automated Transfer System, Hong Kong's real-time system for settling large payments between banks.
A provider account with US details adds a routing and account number, so US buyers can pay by ACH, the low-cost US domestic bank transfer system, as they pay domestic suppliers. Many Hong Kong companies hold both: a bank account for local payments and Hong Kong dollar costs, and a provider or Helm account for US buyers and dollar suppliers.
This guide covers the Hong Kong rules that apply to holding dollars, each type of account and who can open it, published fees, a comparison, documents, what the Stablecoins Ordinance means for USDC and USDT, and how a Helm account fits. It is written for trading companies, importers, exporters, wholesalers, agencies and service firms, with a note for freelancers. For the wider picture of running a Hong Kong trading company, see the Hong Kong trading company USD account guide.
Hong Kong rules on receiving, holding and paying USD
The Hong Kong dollar has been linked to the US dollar since 17 October 1983 under the Linked Exchange Rate System, run by the Hong Kong Monetary Authority (HKMA). The HKMA keeps the exchange rate within a band of HK$7.75 to HK$7.85 to one US dollar. Because the two currencies move closely together, Hong Kong companies price, invoice and hold cash in dollars with little exchange rate risk against their home currency.
None of the HKMA pages cited here sets a deadline to bring export proceeds into Hong Kong or an obligation to sell dollars for Hong Kong dollars, unlike the rules that apply in India or Türkiye. What a company meets instead is the due diligence of the bank or provider, and the licensing regime that decides who may offer accounts and stablecoins.
| Area | What applies in Hong Kong | What it means for a USD account |
|---|---|---|
| Exchange rate | Linked to the US dollar within HK$7.75 to HK$7.85 | Holding USD carries little currency risk against HKD |
| Repatriation and conversion | No deadline or conversion obligation in the HKMA pages cited | Dollars can stay in USD until needed |
| Local USD payments | USD CHATS, launched in August 2000, settled by The Hongkong and Shanghai Banking Corporation | Real-time USD transfers between Hong Kong accounts without SWIFT |
| Banks | Authorized institutions supervised by the HKMA | Customer due diligence at opening and on payments |
| Payment providers | Money Service Operators licensed by the Customs and Excise Department, such as Airwallex (license 16-09-01929) | Not banks; protections on balances differ from a bank deposit |
| Stablecoins | Stablecoins Ordinance, in effect from 1 August 2025 | Rules on who may issue and offer fiat-referenced stablecoins |
Sources: HKMA, Linked Exchange Rate System and Payment Systems pages; Airwallex Hong Kong, USD account page; Davis Polk, Hong Kong's licensing and regulatory framework for stablecoins now in effect. As published on 29 October 2026.
A Money Service Operator (MSO) is a business licensed in Hong Kong to exchange currency or send money. Customer due diligence means the checks a bank or provider makes on who owns and controls a company and where its money comes from; it is the main reason account opening can take time.
Option 1: a USD account at a Hong Kong bank
Hong Kong banks open multi-currency business accounts in which US dollars sit alongside Hong Kong dollars and often renminbi, euros and pounds. Hong Kong does not use IBAN, the International Bank Account Number format used in Europe and many other countries. An account is identified by the bank, the account number and, for international payments, the bank's SWIFT code.
Buyers abroad pay the USD account by SWIFT, through the bank's correspondent in the United States. A correspondent bank is a bank that holds an account for another bank and settles payments in its currency. Buyers and suppliers in Hong Kong can pay by USD CHATS, which settles in real time on bank business days without a correspondent.
| Item | HSBC Hong Kong, August 2026 tariff |
|---|---|
| Account application fee | HK$1,300 per application through its Account Application Centre or Business Express app; HK$300 more through other channels |
| Company search at the Companies Registry | HK$150 each |
| Monthly fee (BusinessVantage) | Waived at a HK$500,000 average balance; HK$200 from HK$100,000; HK$450 below HK$100,000 |
| Incoming SWIFT from overseas | HK$65 per payment credited |
| Inward CHATS (RTGS) payment | HK$15 |
| Outgoing SWIFT | HK$125 online; HK$200 extra for remote currencies |
Source: HSBC Hong Kong, Commercial Banking complete tariffs, August 2026, as published on 29 October 2026. Overseas bank charges are not included.
RTGS is real-time gross settlement, which means each payment settles on its own, in real time. The strengths of a bank account are deposit-taking, CHATS access and a full range of services, including trade finance. The limits are the account opening review and, as with any bank outside the United States, the lack of a US routing number, so US buyers send international wires. On SHA terms, where fees are shared, intermediary banks can deduct their fees in transit; OUR terms mean the sender pays all fees.
Option 2: licensed payment providers with US details
Airwallex and Wise both list Hong Kong among the places they serve, and several other providers market USD accounts to Hong Kong companies. Each provider's own pages say what it offers.
| Provider | What it publishes for Hong Kong businesses | Points to check |
|---|---|---|
| Airwallex | USD account with local US bank codes and a dedicated account number; no account opening fees, monthly maintenance charges or minimum transaction requirements; licensed as an MSO by the Customs and Excise Department; states it is not a bank | Which US rails each account receives |
| Wise Business | Hong Kong-registered businesses can receive with Wise account details, including USD; in Hong Kong, money can be held in business accounts but not personal accounts | Received funds must be used within 90 days or they are frozen; new USD details are available only in some regions |
| Aspire | USD account for Hong Kong businesses with no monthly fee or minimum balance listed; fixed USD 8 fee on inbound SWIFT payments | FX spread on conversions |
Sources: Airwallex Hong Kong, USD account; Wise, how Hong Kong businesses receive payments; Wise, where do I need to live to hold money with Wise; Aspire, choosing the best USD account in Hong Kong. As published on 29 October 2026.
Wise's page sets a rule many guides leave out: if a Hong Kong business account has no activity for 90 days after receiving funds, those funds are frozen and must be withdrawn to a designated account. Treat any provider account as a working account, and read its terms on inactivity, holding periods and which payment rails each set of details accepts.
Providers are not banks, and their balances are not bank deposits; Airwallex, for example, states on its Hong Kong page that it is not a bank. Check each provider's license and where it holds customer funds before keeping large balances.
Option 3: a US company
Some Hong Kong founders form a US company to open a US bank account. Some US fintech providers accept only companies formed in the United States, and ask for an EIN, the Employer Identification Number that the Internal Revenue Service issues to companies, before the account goes live.
The cost is a second company: state filings, a registered agent, separate books and US tax returns. The bigger issue for a trading company is ownership of the money. Payments into the US company's account belong to the US company, while contracts, invoices and shipping documents are usually in the Hong Kong company's name. That mismatch draws questions from banks, auditors and tax advisers. A US account makes sense for groups that also operate in the United States; for a Hong Kong company that only needs US buyers to pay it by ACH, an account with US details in its own name is simpler.
The options compared
The table compares types of account, not providers, and is not a ranking.
| Hong Kong bank USD account | Licensed provider with US details | Account of a US company | Helm USD account | |
|---|---|---|---|---|
| Account holder | Hong Kong company | Hong Kong company | US company | Hong Kong company |
| Account details | Account number and SWIFT code; no IBAN | US routing and account number | US routing and account number | US routing and account number, plus EUR and GBP details |
| How a US buyer pays | International wire (SWIFT) | ACH or wire, per provider | ACH or wire | ACH, Fedwire or SWIFT |
| Local USD in Hong Kong | USD CHATS | Varies by provider | Not applicable | SWIFT |
| Balance protection | Bank deposit | Not a bank deposit; depends on the provider | US bank deposit | Held with regulated partner institutions |
| Main limits | Opening review; SWIFT fees | Holding and inactivity terms | Second company and filings | Helm is not a bank |
Source: Helm Editorial Team, drawing on the sources cited in this guide, as published on 29 October 2026.
A common set-up for a Hong Kong trading company is a bank account for CHATS, Hong Kong dollar costs and trade finance, and a second USD account with US details for US buyers and payments to suppliers. Our guide on how to pay suppliers in China covers the supplier side.
USDC and USDT in Hong Kong: the Stablecoins Ordinance
Stablecoins are digital tokens designed to hold a steady value against a currency, and USDC and USDT track the US dollar. Hong Kong's Stablecoins Ordinance came into effect on 1 August 2025 and regulates fiat-referenced stablecoins, meaning stablecoins that aim to keep a stable value by reference only to one or more official currencies.
| Point | What the regime says |
|---|---|
| Who needs an HKMA license | Issuers of fiat-referenced stablecoins in Hong Kong, issuers of Hong Kong dollar-referenced stablecoins outside Hong Kong, and those actively marketing such stablecoins to the Hong Kong public |
| Offering to retail investors | Only stablecoins from HKMA-licensed issuers can be offered to retail investors |
| Stablecoins from unlicensed issuers | Restricted to professional investors |
| Who may offer stablecoins in Hong Kong | HKMA-licensed issuers, SFC-licensed virtual asset trading platforms, SFC-licensed Type 1 corporations and authorized institutions (banks) |
| Transition for existing issuers | Applications by 31 October 2025; those that did not apply entered a closing down period from 1 November 2025 |
Source: Davis Polk, Hong Kong's licensing and regulatory framework for stablecoins now in effect, as published on 29 October 2026. The SFC is the Securities and Futures Commission.
The Ordinance governs issuing and offering stablecoins. The summary cited does not address a business receiving a stablecoin from a customer as payment for goods, so a Hong Kong company should take advice on its own position, and check whether a coin's issuer holds an HKMA license before treating it as a retail product.
Helm accounts can receive, send and convert USDC and USDT to USD inside the account, so a business that is paid in stablecoins where the law allows can hold the value as dollars in the same account it uses for wires. Details are on the digital dollars page.
Documents and a note for freelancers
Banks and licensed payment providers ask for broadly the same documents. The difference is usually how much evidence of trade they need before approval.
| Document | Why it is asked for |
|---|---|
| Certificate of incorporation and business registration certificate | Confirms the company exists and is registered to do business |
| Articles of association and company register extracts | Shows who owns and controls the company |
| Passports or Hong Kong identity cards of directors, beneficial owners and signatories | Identity checks on the people behind the company |
| Proof of business and residential addresses | Confirms where the company and its controllers are |
| Organization chart for corporate shareholders | Traces ownership to the individuals |
| Sample contracts, invoices and shipping documents | Shows the trade is real, with named buyers, suppliers and goods |
| Expected monthly volumes by currency and country | Lets the bank or provider set expected activity |
Typical checklist for a Hong Kong company; requirements vary by bank and provider. As published on 29 October 2026.
A company with no Hong Kong office, directors overseas and goods that never pass through Hong Kong should prepare more evidence of real trade. If a document request is unclear, ask the bank or provider what it is for and how it will be used.
Freelancers and sole proprietors in Hong Kong who bill clients abroad, such as designers, developers and sourcing agents, face the same choice as companies: a bank account paid by SWIFT, or US details so US clients can pay by ACH. With Wise, holding money in Hong Kong is available in business accounts, not personal ones, so a freelancer who wants to hold dollars there needs a business account. Banks and providers ask a sole proprietor for the business registration certificate and the owner's identity documents in place of company documents.
Where Helm fits for Hong Kong businesses
Helm provides USD account details in the company's own name, with a routing and account number that receives ACH, Fedwire and SWIFT, alongside EUR details (IBAN, SEPA and SWIFT) and GBP details (sort code, Faster Payments and SWIFT). SEPA is the euro bank transfer system across Europe, and Faster Payments is the UK's near-instant transfer system. A US buyer pays the Hong Kong company as it pays domestic suppliers, and European and UK buyers pay in their own currency.
From the same account, Helm sends payments to suppliers by SWIFT and by local rails in the supplier's currency where available, showing the rate, fee and expected arrival before sending, and converts between balances. Trade finance, such as supplier finance, receivables finance and working capital, is arranged case by case, and each account has a named account manager who answers review questions in writing within one business day.
Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions. Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. For another trading hub, see the guide to a USD business account in the UAE.
A checklist before you choose:
- List how your buyers pay: ACH, wire, SWIFT or CHATS.
- Keep a bank account if you need CHATS, HKD costs or bank trade finance.
- Read each provider's terms on holding periods and inactivity.
- Check the account is in the Hong Kong company's own name.
- Agree OUR charges on large SWIFT invoices.
- Take advice on stablecoins under the Stablecoins Ordinance.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can a Hong Kong company open a USD business account?
Yes. Hong Kong banks open multi-currency business accounts that hold US dollars, and licensed payment providers such as Airwallex give Hong Kong companies USD accounts with US bank codes. Bank accounts receive dollars by SWIFT and USD CHATS.
Is the Hong Kong dollar pegged to the US dollar?
Yes. Under the Linked Exchange Rate System, in place since 17 October 1983, the HKMA keeps the exchange rate within HK$7.75 to HK$7.85 per US dollar. Holding dollars carries little currency risk for a Hong Kong company.
What is USD CHATS?
USD CHATS is Hong Kong's real-time system for US dollar payments between banks in Hong Kong, launched in August 2000 with The Hongkong and Shanghai Banking Corporation as settlement institution. It lets local buyers and suppliers pay in dollars without SWIFT.
Does a Hong Kong bank account have an IBAN?
No. Hong Kong does not use IBAN. Buyers abroad pay using the account number, the bank's name and address and its SWIFT code, plus any intermediary bank the bank names for US dollars.
Can US buyers pay a Hong Kong company by ACH?
Not into a Hong Kong bank account, which receives dollars from the US by international wire. US buyers can pay by ACH into US account details from a provider or from Helm held in the Hong Kong company's name.
Are payment providers in Hong Kong banks?
No. Providers such as Airwallex are licensed as Money Service Operators by the Customs and Excise Department and state that they are not banks. Their balances are not bank deposits, so check where each provider holds customer funds.
Does Wise let Hong Kong businesses hold USD?
Wise states that in Hong Kong money can be held in business accounts, not personal accounts. Its Hong Kong page also says funds received must be used within 90 days or they are frozen, and that new USD details are available only in some regions.
What does Hong Kong's Stablecoins Ordinance mean for USDT and USDC?
The Ordinance, in effect since 1 August 2025, requires an HKMA license to issue fiat-referenced stablecoins in Hong Kong and limits retail offers to stablecoins from licensed issuers. Stablecoins from unlicensed issuers may be offered only to professional investors.
What documents do Hong Kong banks need for a business account?
Typically the certificate of incorporation, business registration certificate, articles of association, identity documents of directors, owners and signatories, proof of addresses and evidence of trade such as contracts and invoices. Banks also ask for expected monthly volumes by currency.
References
- Hong Kong Monetary Authority: Linked Exchange Rate System
- Hong Kong Monetary Authority: Payment Systems (HKD, USD, Euro and RMB CHATS)
- Davis Polk: Hong Kong's licensing and regulatory framework for stablecoins now in effect
- HSBC Hong Kong: Commercial Banking complete tariffs, August 2026
- Airwallex Hong Kong: USD business account
- Wise: How Hong Kong businesses receive payments
- Wise: Where do I need to live to hold money with Wise?
- Aspire: Choosing the best USD account in Hong Kong for your business
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.